Bank of America and the Short Sale Process.

I have 2 recent short sales submittedto BofA some 60 days ago and still no negotiator?? I also have a case where they approved a short sale and according to them had the foreclosure on hold while the short sale was worked but they failed to notify the attorney who foreclosed anyway!

I have escalated this file to the President's office and a senior negotiator is working on rescinding this foreclosure and 45 more days have passed!

BofA please tell us how we can help you approve short sales in a timely manner.

Yes, BofA... Do tell!!! It is soooo frustrating and mind blowing that such a big bank could operate this way and think you will still have a good reputation! BofA at times, use BofA in place of a curse word now when they stub their toe. They scream BofA instead of something else.

Would it not be a good idea to tie compensation of bank management to performance? It would seem obvious that allowing timely short sales would save the banks the costs associated with foreclosure. However I understand that there are still federal guarantees for some funds lost in a foreclosure. So in some cases bank management opts to foreclose because they are better compensated for these loses via the taxpayers.

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